IFM Investors Pty Ltd grew its holdings in shares of Lam Research Co. (NASDAQ:LRCX) by 17.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 14,050 shares of the semiconductor company’s stock after acquiring an additional 2,056 shares during the quarter. IFM Investors Pty Ltd’s holdings in Lam Research were worth $6,635,000 at the end of the most recent quarter.
Other hedge funds also recently bought and sold shares of the company. Morgan Stanley boosted its stake in shares of Lam Research by 121.2% in the 3rd quarter. Morgan Stanley now owns 694,291 shares of the semiconductor company’s stock valued at $230,331,000 after purchasing an additional 380,473 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its stake in shares of Lam Research by 25.5% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,130,606 shares of the semiconductor company’s stock worth $375,078,000 after purchasing an additional 229,409 shares during the period. Alkeon Capital Management LLC boosted its holdings in shares of Lam Research by 34.3% in the third quarter. Alkeon Capital Management LLC now owns 860,481 shares of the semiconductor company’s stock worth $285,464,000 after buying an additional 220,000 shares during the last quarter. Neuberger Berman Group LLC grew its position in Lam Research by 68.7% during the second quarter. Neuberger Berman Group LLC now owns 512,884 shares of the semiconductor company’s stock valued at $165,856,000 after buying an additional 208,802 shares during the period. Finally, Van ECK Associates Corp increased its holdings in Lam Research by 61.3% during the third quarter. Van ECK Associates Corp now owns 548,145 shares of the semiconductor company’s stock valued at $181,848,000 after buying an additional 208,357 shares during the last quarter. 76.86% of the stock is owned by hedge funds and other institutional investors.
Shares of NASDAQ LRCX traded down $9.94 during midday trading on Wednesday, reaching $526.50. 1,314,325 shares of the stock traded hands, compared to its average volume of 1,480,357. The company’s 50 day moving average is $485.38 and its 200 day moving average is $388.56. Lam Research Co. has a one year low of $181.38 and a one year high of $537.86. The stock has a market capitalization of $75.82 billion, a PE ratio of 29.86, a P/E/G ratio of 1.34 and a beta of 1.33. The company has a debt-to-equity ratio of 0.92, a current ratio of 3.31 and a quick ratio of 2.68.
The business also recently declared a quarterly dividend, which was paid on Wednesday, January 6th. Investors of record on Wednesday, December 9th were given a $1.30 dividend. The ex-dividend date of this dividend was Tuesday, December 8th. This represents a $5.20 annualized dividend and a yield of 0.99%. Lam Research’s dividend payout ratio is currently 32.60%.
In other news, CFO Douglas R. Bettinger sold 14,556 shares of the business’s stock in a transaction that occurred on Thursday, October 22nd. The stock was sold at an average price of $358.01, for a total transaction of $5,211,193.56. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Timothy Archer sold 15,793 shares of the stock in a transaction on Tuesday, December 29th. The shares were sold at an average price of $475.66, for a total value of $7,512,098.38. The disclosure for this sale can be found here. In the last quarter, insiders sold 63,758 shares of company stock valued at $26,985,698. 0.34% of the stock is currently owned by company insiders.
LRCX has been the subject of a number of recent research reports. Deutsche Bank Aktiengesellschaft downgraded shares of Lam Research from a “buy” rating to a “hold” rating and boosted their price objective for the company from $400.00 to $500.00 in a research report on Thursday, December 17th. The Goldman Sachs Group boosted their price target on Lam Research from $451.00 to $557.00 and gave the company a “buy” rating in a report on Monday, December 14th. B. Riley raised their price objective on Lam Research from $465.00 to $600.00 and gave the stock a “buy” rating in a research note on Monday, December 14th. Stifel Nicolaus boosted their price objective on Lam Research from $352.00 to $418.00 and gave the company a “buy” rating in a research note on Thursday, October 22nd. Finally, Needham & Company LLC lowered shares of Lam Research from a “buy” rating to a “hold” rating in a report on Friday, January 8th. They noted that the move was a valuation call. Five investment analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and two have issued a strong buy rating to the company. Lam Research currently has an average rating of “Buy” and a consensus target price of $412.96.
About Lam Research
Lam Research Corporation designs, manufactures, markets, refurbishes, and services semiconductor processing equipment used in the fabrication of integrated circuits in the United States, China, Europe, Japan, Korea, Taiwan, and the southeast Asia. The company offers ALTUS systems to deposit conformal films for tungsten metallization applications; SABRE electrochemical deposition products for copper damascene manufacturing; SOLA ultraviolet thermal processing products for film treatments; and VECTOR plasma-enhanced CVD ALD products.
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